Side-by-Side Duplex with Private
For Sale
$595,000
7515 NE EVERETT St, Portland, OR 97213
MultiFamily, Portland, OR
Property Size1,560 SF
Lot Size0.12 Acres
Price / SF$381.41
Days on Market10
Property Features for 7515 NE EVERETT St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
Elementary school
Vestal
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
From Glisan, head S on NE 75th to corner of Everett
Subdivision
_142
Standard status
Active
APN
R222373
Size
1,560 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
MT TABOR VILLA, BLOCK 23, LOT 14
Tax Annual Amount
4620
Legal Description
MT TABOR VILLA, BLOCK 23, LOT 14
Utilities
Heating system
Baseboard, Zoned
Amenities
private decks
fenced yards
outside storage area
raised beds
Building Details
Year built
1969
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
RE/MAX Equity Group · RE/MAX International
(503) 287-8989
Listed By:
Shea Steel · License #200201233
(503) 975-7036
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 10:06AM
MLS# 782255031
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1969, this 1,560-square-foot side-by-side duplex contains two mirrored units, each with two bedrooms, one bathroom, a living room, dining area, and kitchen. Both residences are fully leased and include private decks, fenced yards, and off-street parking. Unit 7515 includes newer LVP flooring, pull blinds, a water heater, a refinished bathtub, outside storage, raised beds, and a washer and dryer. Unit 7517 features an updated kitchen, deck access, and a new wood gate. The property occupies a 0.12-acre corner lot and is zoned R2, with baseboard and zoned heating beneath a composition roof.
The property is near local cafes, pubs, shops, parks, and public transit, with access to I-84. Seller-paid garbage and sewer/water service is included in the current arrangement.
The property is near local cafes, pubs, shops, parks, and public transit, with access to I-84. Seller-paid garbage and sewer/water service is included in the current arrangement.
Key Highlights
- Two‑unit duplex with 1,560 square feet on a 0.12‑acre corner lot
- Both units are fully leased with mirrored 2‑bedroom, 1‑bath layouts
- Private decks, fenced yards, and off‑street parking for both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,740
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,800
$434.8K
Cap Rate 7%
$310,571
$310.6K
Cap Rate 9%
$241,556
$241.6K
Market Conditions
NOI Build-Up for 1,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.8K $21.00/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$31.1K $19.91/SF
− OpEx
−$9.3K −$5.97/SF
NOI
$21.7K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,800
Cap Rate 7%
$310,571
Cap Rate 9%
$241,556
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,030 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$438.1K
$383.3K – $511.1K
NOI $30,666 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully leased units offer mirrored two-bedroom layouts, decks, fenced yards, and off-street parking.
Where is this duplex located?
The property is located at 7515 NE EVERETT St Portland, OR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,560 square feet on a 0.12‑acre corner lot; Both units are fully leased with mirrored 2‑bedroom, 1‑bath layouts; Private decks, fenced yards, and off‑street parking for both units
